Post Utme Aaua 2021 Accounting Question 13

Practice objective / multiple choice question 13 from the 2021 Post Utme Aaua Accounting examination.

Post Utme Aaua 2021 Accounting Objective / Multiple Choice
Question 13 POST_UTME_AAUA • 2021 • ACCOUNTING • objective

A company has the following transactions: purchase of goods for ₦100,000, sale of goods for ₦150,000, and payment of ₦20,000 to a creditor. What is the correct journal entry for these transactions?

Answer Options

Correct Answer A. Debit: Purchases ₦100,000, Credit: Sales ₦150,000, Debit: Creditor ₦20,000
B. Debit: Purchases ₦100,000, Credit: Sales ₦150,000, Credit: Creditor ₦20,000
C. Debit: Purchases ₦100,000, Credit: Sales ₦150,000, Debit: Creditor ₦20,000
D. Debit: Purchases ₦100,000, Credit: Sales ₦150,000, Credit: Creditor ₦20,000
Correct Answer
A
Correct Option:
Debit: Purchases ₦100,000, Credit: Sales ₦150,000, Debit: Creditor ₦20,000

About This Question

This is Post Utme Aaua 2021 Accounting Question 13. It is one of the objective questions from the 2021 Post Utme Aaua Accounting examination.

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